Karachi:Prime Minister Shehbaz Sharif has emphasized the importance of export-led growth as a key driver for economic progress. According to Radio Pakistan, while virtually addressing a ceremony at the Pakistan Stock Exchange in Karachi, Sharif highlighted the crucial role of the private sector in enhancing the production and export of goods and services. He mentioned substantial tax relief provided to exporters, manufacturers, and industries in the current financial year's budget. The Prime Minister pointed out that the positive effects of incentives given to the construction industry are starting to become apparent. Sharif acknowledged the collective efforts of the economic team, provincial governments, and relevant departments in overcoming economic challenges and achieving macroeconomic stability. He referred to recent meetings with prominent bankers in New York and London, who recognized Pakistan's commitment to implementing long-overdue reforms and noted a favorable environment in the country. The Pr ime Minister expressed satisfaction with the State Bank of Pakistan's foreign exchange reserves reaching $21.4 billion, supplemented by an additional $5.5 billion held by commercial banks. He also highlighted increases in remittances and IT exports, alongside the robust performance of Roshan Digital Accounts. Sharif underscored the need for further improvements in the capital market and stressed the importance of taking necessary steps to achieve this. He conveyed confidence that Pakistan would emerge as a strong global economy, stressing the need for sustained and tireless efforts to reach this objective.
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